Daily News

Denmark – Acquisitions boost Jobindex’s Q2 results

18 August 2014

Danish job board Jobindex AS (JOBND: CPH) reported revenue of DKK 57.2 million (€7.7 million) for the second period ending 30 June 2014, an increase of +72.3% compared with DKK 33.2 million (€4.5 million) during the same period last year.

The company achieved a net profit after tax of DKK 8.1 million (€1.1 million), an increase of +179% against DKK 2.9 million (€388,962) last year.

The substantial rise in revenue and net profit after tax is as a result of the acquisition of ComputerWorld in May 2013 and Stepstone and it-jobbank in March 2014. The acquisition of ComputerWorld facilitated Jobindex’s move into the media market and the expansion of its recruitment services.

Stepstone and it-jobbank reported revenue of DKK 6 million (€804,748) and DKK 4 million (€536,499), respectively, during the second quarter. EBIT for the period was DKK 4 million (€536,499) and DKK 1 million (€134,125), respectively.

Last month, and for the second time this year, Jobindex upwardly revised its earnings forecast for the year, following a strong performance during the first half of the year. The company expects to achieve revenue in the region of DKK 200 million (€26.8 million) and EBIT in the region of DKK 40 million (€5.4 million).

Despite the positive results, the company’s share price fell by -1.3% in early trading today to DKK 453 (€60.76), an increase of +21.3% compared with a year ago. Based on its current share price, the company has a market value of DKK 413.1 million (€55.4 million).

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